mark received a 3.5% salary increase. His salary after the raise was $36,432. What was his salary before the raise?
1.035 x = 36432
what is the process of how you got this answer
100 % + 3.5 % increase = 103.5%
fraction = percent/100
fraction = 103.5/100 =1.035
To find Mark's salary before the raise, we need to work backward from the salary after the raise. Here's how we can calculate it:
Step 1: Calculate the salary increase amount.
The salary increase is given as 3.5% of Mark's previous salary. We can calculate it using the formula:
Salary Increase = Previous Salary * (Percentage Increase/100)
We can rearrange this formula to solve for the previous salary:
Previous Salary = Salary After Raise / (1 + Percentage Increase/100)
Step 2: Substitute the given values into the formula.
In this case, the salary after the raise is $36,432, and the percentage increase is 3.5%.
Previous Salary = $36,432 / (1 + 3.5/100)
Step 3: Perform the calculation.
Divide the salary after the raise by 1 plus the percentage increase in decimal form.
Previous Salary = $36,432 / (1 + 0.035)
Previous Salary = $36,432 / 1.035
Previous Salary ≈ $35,200.97
Therefore, Mark's salary before the raise was approximately $35,200.97.